Select Page

Don't Tread On My Site

New York Fines Deutsche Bank For Not Questioning Epstein’s Suspicious Withdrawals

Load WordPress Sites in as fast as 37ms!

Deutsche Bank will pay $150 million in settlements over charges that the German bank “failed to properly monitor” convicted sex offender Jeffrey Epstein’s account activity.

The New York Department of Financial Services said in a Tuesday press release that the bank did not do enough to monitor the late sex offender’s accounts, though the bank was aware that Epstein had served time in prison after pleading guilty to procuring sex from a minor.

“The Bank’s fundamental failure was that, although the Bank properly classified Mr. Epstein as high-risk, the Bank failed to scrutinize the activity in the accounts for the kinds of activity that were obviously implicated by Mr. Epstein’s past,” the New York Department of Financial Services said in the consent order.

Deutsche Bank was also aware that “there were public allegations that his conduct was facilitated by several named co-conspirators,” according to the consent order.

“Despite this knowledge, the Bank did little or nothing to inquire into or block numerous payments to named co-conspirators, and to or on behalf of numerous young women, or to inquire how Mr. Epstein was using, on average, more than $200,000 per year in cash,” the order says.

Deutsche Bank, which ended its relationship with Epstein in December 2018, has come under fire over anti-money laundering protocol violations in the past, Politico reports.

A spokesperson for the German bank said in a statement that as soon as Epstein was arrested, “we contacted law enforcement and offered our full assistance with their investigation,” according to Politico.

“We have been fully transparent and have addressed these matters with our regulator, adjusted our risk tolerance and systematically tackled the issues,” the spokesperson added. “We deeply regret our association with Epstein.”

Epstein died of apparent suicide in a federal jail in New York City in August 2019 after he was arrested last summer.

In 2008, he pleaded guilty to soliciting a minor for prostitution. Attorney Alan Dershowitz helped negotiate a plea deal that gave federal immunity to Epstein and his co-conspirators, the Miami Herald reported. Epstein only served 13 months in jail in Palm Beach with liberal work release.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.


This post has been republished with permission from a publicly-available RSS feed found on Daily Caller. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

About The Author

Mary Margaret Olohan

The Daily Caller was founded in 2010 by Tucker Carlson, a 20-year veteran journalist, and Neil Patel, former chief policy advisor to Vice President Cheney, The Daily Caller is one of America’s largest and fastest-growing news publications. Our team of experienced, full-time reporters and editors works around the clock to deliver award-winning original reporting, in-depth investigations, entertainment, thought-provoking commentary and up-to-the-second breaking news. Visit https://dailycaller.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.